Manama, Bahrain - Innovate for Bahrain (i4BH), an innovation center led by the Supreme Council for Women (SCW) and operated by Bahrain FinTech Bay (BFB), is proud to announce a strategic partnership with Visa, a global leader in digital payments. The partnership aims to support Bahrainis in building innovative solutions for the Kingdom, fostering a culture of entrepreneurship and technological advancement. Announced in November 2023, Innovate for Bahrain is set to open in Riyadat Mall.

Under this partnership, Visa will support the Innovation Community Center, a hub dedicated to fostering an environment of innovation among entrepreneurs, youth, and professionals. This support will include initiatives to promote financial literacy and develop innovative solutions for business challenges.

Visa will also engage in inspiring media initiatives, shedding light on entrepreneurial journeys and learnings, and building a startup ecosystem focused on strategic collaborations and learning the benefits of incorporating technology in business operations.

"At Visa, we know local talents can play an important role in driving digital transformation and promoting inclusive economic growth.  We are always ready to offer our expertise as well as industry leading technology and network to enable young professionals, women entrepreneurs, fintechs and startups in key markets like Bahrain to create innovative local solutions to unique business and commerce challenges. That’s why we are delighted to partner with Innovate for Bahrain to help build local talent and capacity and to support the local government’s digital commerce agenda,” said Malak Alsaffar, Visa's Country Manager for Bahrain.

“Visa has been a strong supporter of the startup ecosystem and female entrepreneurs in Bahrain for many years. Their experience will be invaluable in driving innovation and empowering Bahrainis to build innovative solutions for the Kingdom. This partnership with Visa signifies our commitment to working closely with the private sector to foster a culture of entrepreneurship and innovation in Bahrain at the highest global standard. We are excited to see what opportunities this partnership will create for local talents and professionals across the Kingdom.” said Bader Sater, CEO of Bahrain FinTech Bay.

"Innovate for Bahrain produces impactful learning experiences that empower local talents in their career ambitions and entrepreneurial spirits. We provide innovative learning projects merging educational technologies and global case studies," said Mohamed Al-Subaiee, Director of Innovate for Bahrain. "We are thrilled to partner with Visa to enable diverse innovations in upskilling programs and supporting professional growth," he added.

Through Innovate for Bahrain, Visa will be able to train and empower 600 entrepreneurs and professionals, contributing to the development of a vibrant startup ecosystem in Bahrain.

About Innovate for Bahrain:

Through the direction of the Supreme Council of Women, Innovate for Bahrain is an innovation center focused on the development of local start-ups, promoting gender equality, and supporting career advancement through a diverse variety of initiatives. i4BH’s mission is to be the leader in building engaging and impactful projects, transforming careers and business ideas into successful projects and business ventures. This is achieved through sustainable collaborations and localizing strategies to empower women, enable youth, and support professionals’ ambitions.

About Visa:

Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure, and reliable electronic payments. Visa operates one of the world's most advanced processing networks—VisaNet—that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa's innovations enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid, or pay later with credit products.

About Bahrain FinTech Bay:

Bahrain FinTech Bay is an ecosystem builder. It incubates impactful and scalable Fintech initiatives through innovation labs, acceleration programs, curated activities, and educational opportunities. This collaborative platform is dedicated to furthering the development, interaction, and acceleration of the Fintech ecosystem. To bring the full spectrum of market participants together, BFB partners with governmental bodies, financial institutions, corporates, consultancy firms, universities, associations, venture capital, and Fintech start-ups. Bahrain FinTech Bay is a subsidiary of the BENEFIT Company.